BP’s Q2 Profit Doubles Amid Middle East Conflict, but It Cuts Production, Capex Outlook

BP p.l.c. (NYSE: BP ) stock is trading lower on Tuesday after the energy major reported second-quarter results that surpassed Street estimates. Chief Executive Officer Meg O’Neill noted weaker operational performance during the quarter, with upstream plant reliability declining to 92.4% from 95.7% in the first quarter of 2026. Production and refinery throughput were impacted by planned maintenance and Middle East disruptions, highlighting the need for further improvements in operational consistency. Read Also: ConocoPhillips Taps Into Billion-Barrel Iraq Asset In Strategic BP Deal BP posted adjusted earnings of $2.22 per American depository share, significantly higher than 90 cents in the year-ago period. Revenue increased to $69.1 billion from $46.63 billion a year earlier, surpassing analyst estimates of $63.6 billion. Profit attributable to shareholders climbed to $3.91 billion, co...